GE Capital Aviation Services Delivers New Leased Boeing 777-200LRF to Ethiopian Airlines

Press release:

26 September 2012

GE Capital Aviation Services Delivers New Leased Boeing 777-200LRF to Ethiopian Airlines

 

DUBAI, United Arab Emirates, September 26, 2012 – GE Capital Aviation Services Limited (GECAS), the commercial aircraft leasing and financing arm of GE, announced the delivery of a new leased Boeing 777-200LRF aircraft to Ethiopian Airlines.

A second 777-200LRF is scheduled for delivery next month. The aircraft will expand and modernize the carrier’s freighter fleet.

“GECAS helped Ethiopian obtain the aircraft it needed sooner for its freighter fleet modernization, and with all of the capital-investment savings of leasing,” said Jonty Nel, senior vice president and region manager for Africa and the Middle East for GECAS. “We are delighted to expand our relationship with Ethiopian on the cargo side.”

GECAS currently leases two Boeing 737-700NGs and one 757-200 to Ethiopian, a GECAS customer since 1993.

Ethiopian Cargo Services currently operates six dedicated freighter aircraft -- two 747-200Fs, two MD-11Fs and two 757-260Fs-- on a charter and scheduled basis to more than 40 cargo destinations within Africa and around the world from its hub in Addis Ababa. Typical outgoing cargo includes frozen meat, fruit, semi-processed (finished) leather, vegetables, flowers, carpet and rugs, chilled meat and frozen fish products. Typical incoming cargo includes chemicals, equipment and machinery, spare parts, electronics, garments, medicines and tea.

The 777-200LRF is powered by twin GE90 engines and based on the 777-200LR (long-range) passenger model. It has a revenue payload capability of 229,000 pounds (103.9 tonnes) and provides the same 10-foot (3-m) interior height capacity as the 747 family, allowing for convenient transition of cargo between the models. The airplane's range of 4,895 nautical miles (9,065 km) with a full payload allows Ethiopian to operate with fewer stops, lowering costs and accelerating deliveries.

GECAS has more than 100 freighter aircraft in its portfolio, including 737Fs, 737QCs, 747Fs, 767Fs, 777Fs and MD-11Fs. GECAS freighter aircraft are leased to 27 operators worldwide.

About GE Capital Aviation Services (GECAS)GECAS, the U.S. and Irish commercial aircraft financing and leasing business of GE, has a fleet of over 1,710 owned and managed aircraft with approximately 235 airlines in over 75 countries. GECAS offers a wide range of aircraft types and financing options, including operating leases and secured debt financing, and also provides productivity solutions including spare engine leasing, spare parts financing and management. GECAS, a unit of GE Capital, has offices in 24 cities around the world. (www.GECAS.com) 

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